Intel Recommends Stockholders To Reject Tutanota's 'Mini-Tender Offer' To Purchase Up To 1M Shares At $34 Per Share
Portfolio Pulse from Benzinga Newsdesk
Intel has advised its stockholders to reject Tutanota's 'mini-tender offer' to purchase up to 1 million shares at $34 per share, as it is below the market price. Tutanota can extend the offer, delaying payment beyond the scheduled expiration date of September 4, 2024.
August 15, 2024 | 8:36 pm
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Intel has recommended its stockholders reject Tutanota's 'mini-tender offer' to purchase up to 1 million shares at $34 per share, as it is below the market price. Tutanota can extend the offer, delaying payment beyond September 4, 2024.
Intel's recommendation to reject the offer is likely to prevent stockholders from selling at a below-market price, which could stabilize the stock price in the short term. However, the potential for extended offer periods and delayed payments introduces uncertainty.
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